2024-04-18 13:05:00 ET
Summary
- Patient Capital Management are long-term, contrarian, value investors focusing on growing wealth through Time, not Timing. We operate with the singular purpose of serving clients and helping them enhance their long term investment returns.
- Patient Opportunity Equity strategy advanced 11.8% net of fees in the first quarter, beating the S&P 500’s 10.6% gain.
- Low multiple stocks’ recent outperformance might surprise you given talk of the dominance of the Magnificent 7 - these darlings have continued to lead, up 16.5% on average over the period but the gains didn’t come at the expense of classic value’s recovery.
- We are still in a bull market, but valuations, cost of debt and sentiment are higher, and in this environment, we think being more opportunistic makes sense.
By Samantha McLemore
A Differentiated View on Diversification
"It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change." - Misquote by Charles Darwin
Read the full article on Seeking Alpha
For further details see:
Patient Capital Management Opportunity Equity Strategy Q1 2024 Commentary